Fresh Tracks hires new CEO as leader retires
BOULDER — Fresh Tracks Therapeutics Inc. (Nasdaq: FRTX), the Boulder-based pharmaceutical company formerly called Brickell Biotech, has hired a new CEO to replace Rob Brown, who has led the company since 2019 and is retiring.
Brown’s successor is Andrew Sklawer, FTT’s president.
Brown is retiring Feb. 1 and will serve as a non-executive member of the board of directors and a special adviser to Fresh Tracks.
“As a co-founder of Fresh Tracks with Andy, we have a long history of partnering together, and I look forward to continuing our development efforts and working to build shareholder value,” FTT board chairman Reginald Hardy said in a prepared statement. “He has been instrumental in shaping the strategic direction of the company since inception and in identifying and acquiring the novel drug candidates that enabled us to establish our presence in the fields of immunology and inflammation over the past two years. I believe he is uniquely qualified to continue to lead our company with the exceptional team we already have in place.”
Sklawer takes the helm during a period of transition for Fresh Tracks.
The company’s 2022 rebrand occurred as the company seeks to pivot away from drugs that combat excessive sweating toward treatments for autoimmune, inflammatory and other debilitating diseases.
Brickell sold off the rights to sofpironium bromide, its excessive-sweating drug, for a $9 million upfront payment, last year to Botanix Pharmaceuticals Ltd., which pledged to make “additional success-based regulatory and sales milestone payments of up to $168 million and tiered earnout payments ranging from high single digits to mid-teen digits on net sales” of the gel, the company said in May.